Mokpo City Supports Housing Purchase Loan Interest for Newlyweds and Multichild Families

Application submission at local administrative welfare center by October 5
Up to 150,000 KRW per month, support for up to 36 months

[Mokpo=Asia Economy Honam Reporting Headquarters Reporter Jeong Hyeong-seok] Mokpo City, Jeollanam-do announced on the 15th that it will support part of the mortgage interest for newlyweds and multi-child families.

The city is promoting the "Newlywed and Multi-child Family Housing Support Project" with Jeollanam-do to reduce the economic burden of housing purchases for young people and encourage marriage, childbirth, and child-rearing.

The support targets newlywed and multi-child families without housing who reside in Mokpo City, and only households that have purchased or plan to purchase a house within the jurisdiction priced at 600 million KRW or less between October 1, 2021, and September 30, 2022, and have passed the loan screening by Korea Housing Finance Corporation or other institutions are eligible.

Newlyweds must have a marriage registration date within 7 years from the loan screening application date to Korea Housing Finance Corporation, have a combined annual income of 85 million KRW or less, and both spouses must be 49 years old or younger.

Multi-child families must have two or more minor children as of the loan screening application date to Korea Housing Finance Corporation, with at least one child 12 years old or younger, and a combined annual income of 100 million KRW or less.

The city will recruit a total of 58 households and support up to 150,000 KRW per month for mortgage interest for 36 months. The application period is until October 5, and applicants must prepare documents issued after the announcement date and visit the local administrative welfare center of their residence to apply.

For more details, contact the Mokpo City Hall website or the Population Policy Team of the Planning and Budget Division of Mokpo City.